CONTACT: Gulf Resources, Inc. Web: http://www.gulfresourcesinc.com Director of Investor Relations Helen Xu (Haiyan Xu) email@example.com
SHOUGUANG, China, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq:GURE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt, specialty chemical products, and natural gas in China, today announced updates to the rectification of its bromine business. Since the beginning of November 2017, Gulf Resources has been working diligently to follow all of the steps required to rectify its bromine operations. In the beginning of January, 2018, Mr. Liu Xiaobin, the President and CEO, Mr. Li Min, the CFO, Mr. Miao Naihui, the COO, went on an inspection tour of the bromine plants accompanied by a U.S. based consultant. The consultant took photographs of the facilities and wrote a report accompanying the photographs. The company has placed this report and the photographs on its website following the link below: http://www.gulfresourcesinc.com/corporate-ppt.html As our U.S. based consultant stated in the report, "As can be seen from the photos in this report, Gulf Resources has spent a considerable amount of money in the past two months in performing the rectification of its bromine mines and factories. While there are no guarantees, management feels confident that the government will approve the rectification of the factories and mines. The company still believes it will be able to begin bromine operations step by step shortly after the Chinese New Year." The company encourages investors to review the report on the website so they can see the considerable amount of work that has already been performed. About Gulf Resources, Inc. Gulf Resources, Inc. operates through three wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"), and Daying County Haoyuan Chemical Company Limited ("DCHC"). The company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the company manufactures chemical products utilized in a variety of applications, including oil and gas field explorations and papermaking chemical agents, and materials for human and animal antibiotics. DCHC was established to further explore and develop natural gas and brine resources (including bromine and crude salt) in China. For more information, visit www.gulfresourcesinc.com. Forward-Looking Statements Certain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries' business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the company's reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.